Sumitomo Mitsui Trust Group Inc. Has $313,000 Stock Position in Globe Life Inc. (NYSE:GL)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Globe Life Inc. (NYSE:GL - Free Report) by 93.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,956 shares of the company's stock after selling 42,633 shares during the quarter. Sumitomo Mitsui Trust Group Inc.'s holdings in Globe Life were worth $313,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Riverview Trust Co acquired a new position in shares of Globe Life during the third quarter worth about $32,000. Benjamin F. Edwards & Company Inc. lifted its position in Globe Life by 88.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 599 shares of the company's stock worth $50,000 after acquiring an additional 281 shares in the last quarter. LRI Investments LLC boosted its holdings in Globe Life by 898.4% in the 2nd quarter. LRI Investments LLC now owns 619 shares of the company's stock worth $51,000 after acquiring an additional 557 shares during the period. Family Firm Inc. acquired a new stake in Globe Life in the second quarter valued at approximately $54,000. Finally, Blue Trust Inc. raised its stake in shares of Globe Life by 249.5% during the second quarter. Blue Trust Inc. now owns 776 shares of the company's stock valued at $64,000 after purchasing an additional 554 shares during the period. Hedge funds and other institutional investors own 81.61% of the company's stock.

Globe Life Trading Down 0.5 %

Shares of GL stock opened at $108.76 on Thursday. The stock has a 50-day simple moving average of $107.39 and a 200 day simple moving average of $95.34. The stock has a market capitalization of $9.13 billion, a P/E ratio of 9.20 and a beta of 0.81. Globe Life Inc. has a fifty-two week low of $38.95 and a fifty-two week high of $132.00. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.50.

Globe Life (NYSE:GL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.43. Globe Life had a net margin of 19.04% and a return on equity of 22.91%. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm posted $2.71 EPS. The business's revenue for the quarter was up 5.1% on a year-over-year basis. On average, sell-side analysts expect that Globe Life Inc. will post 12.31 earnings per share for the current fiscal year.

Globe Life Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 8th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, January 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.88%. Globe Life's dividend payout ratio is currently 8.12%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GL. Piper Sandler upped their target price on shares of Globe Life from $118.00 to $130.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Raymond James upped their price objective on shares of Globe Life from $160.00 to $188.00 and gave the company a "strong-buy" rating in a research report on Tuesday, October 15th. Truist Financial lifted their target price on Globe Life from $90.00 to $105.00 and gave the stock a "hold" rating in a research report on Friday, October 25th. Morgan Stanley raised their price objective on Globe Life from $110.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, October 24th. Finally, TD Cowen assumed coverage on Globe Life in a research report on Wednesday, October 9th. They issued a "buy" rating and a $150.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Globe Life currently has a consensus rating of "Moderate Buy" and an average target price of $124.50.

Globe Life Company Profile

Globe Life Inc, through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States. The company operates in four segments: Life Insurance, Supplemental Health Insurance, Annuities, and Investments.